Our government spending is out of control. Debt has increased from about $9 trillion a few years ago to nearly $16 trillion today. Our debt per taxpayer is $138,000. And yet, Washington seems to be oblivious to what is happening. They call for more spending, er, “investment.” They want to raise taxes on the 52% of us who are currently contributing to give more to the 48% who are not. They say it’s only fair.
It’s out of control. The House budget attempts to reign in the spending a little and is criticized as “radical” by the administration. In fact, the House budget only dials back spending increases so that the deficit still increases by $4 trillion over the next decade but allows the economy to grow faster so that debt to GDP returns to a more normal level.
The current path is unsustainable and the only course to prevent the U.S. from following down the well-worn path of the PIIGS debacles is to cut spending, dial back the social guarantee escalations, reduce the tax burden on businesses, flatten the burden on individuals, and live within our means.
— Steve Odland